EBRD and Dutch FMO Acquire Substantial Stake in Tajikistan’s Leading Micro Lendi...

Print
 
Mar 2021
Tajikistan, March, 30 2021 - The European Bank for Reconstruction and Development (EBRD) and the Dutch entrepreneurial development bank FMO have paid $5.4mn to acquire a 43.5% stake in Tajikistan’s leading micro lending institution, Imon International.

The move will allow Imon to continue providing financial services to more than 100,000 micro businesses and individual borrowers across the Central Asian nation despite the exit of Imon’s main shareholder, micro-credit Fund “IMON”. The EBRD and FMO will each own 17.9% of Imon, making another shareholder, Luxemburg-based Mikro Kapital, the largest shareholder with a stake of 42.7%.

The transaction also means Imon will comply with the regulatory requirements as well as international standards of corporate governance and integrity.

“Since 2008 we have been focused on the development of microfinance, and this shares purchase of Imon International fully fits into Mikro Kapital’s strategy,” Vincenzo Trani, president of Mikro Kapital, stated. 

‘‘With this increased investment in Imon we focus on the future development of the financial institution. The target group of grassroots businesses and farmers that Imon supports is fully in line with FMO’s development objectives,” Jaap Reinking, FMO director of private equity, commented.

To date, the EBRD has invested €731mn through 139 projects in Tajikistan’s economy.



Source : bne IntelliNews
 

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More